Endorsements Available on the Business Owner Policy for Architects and Engineers
There are several endorsements available on the business owner policy and this will vary with each insurance company. Here are some of the examples of the endorsements that may be available.
Probably the most common endorsement request is the additional insured endorsement. A blanket additional insured endorsement may be available for with your insurance company. This endorsement essentially states that if your firm has a contract requirement to list an additional insured this can be accomplished with the blanket additional insured endorsement. However, many insurance companies may also be able to have a scheduled additional insured endorsement; this lists each additional insured entity specially as requested.
Hired and non-owned auto liability is a common endorsement requested for architects and engineers. This endorsement provides liability coverage for your firm when your employees or owners use their vehicle for business purposes. This coverage does not provide physical damage coverage, but the insurance company may be able to add the physical damage by endorsement.
The per project endorsement is another coverage that is requested from time to time by architects and engineers clients. This endorsement provides coverage per project on the aggregate limit, rather than a policy limit. This endorsement is not available with every insurance company but be sure to ask your insurance company if you have the request from your firms client.
ERISA coverage for your firm’s 401k plan may be available. This endorsement is essentially coverage for employee dishonestly with regards to the retirement plan. Your firm may increase the limits and specially list your firm’s retirement plan name on the policy.
There are several endorsements that can be requested. Ask your insurance agent to find out if there is an additional premium for the requested endorsement. If you have any questions please call or email your Professional Underwriter.